What to Watch in the Day Ahead - Tuesday, June 16

(The Day Ahead is an email and PDF publication that includes the day's major stories and
events, analyses and other features. To receive The Day Ahead, Eikon users can register at
. Thomson One users can register at RT/DAY/US. All times in ET/GMT)

The Federal Open Market Committee (FOMC) begins a two-day meeting on interest rate policy. The
central bank will likely not raise rates at this meeting, with the main focus on individual
policymakers' economic projections that are likely to reflect poor growth in the first quarter.
Investors will watch for any hints from Fed chair Janet Yellen at a press conference after the
meeting about when the Fed will be in a position to hike rates.

New home constructions likely slowed in May, even as rising demand for housing has led to a
shortage in inventory and pushed prices up. In April, housing starts jumped to their highest
level in more than seven years, offering hope for accelerated growth. The Commerce Department is
expected to report that groundbreaking for new homes fell to a 1.1 million-unit rate in May,
from a 1.135 million-unit rate in April. Applications for permits were also likely down in May.

Adobe Systems Inc is expected to report a second-quarter profit above estimates, according to
Thomson Reuters StarMine. The Photoshop maker has been switching from traditional box licenses
to web-based subscriptions for its Creative Cloud software bundle to help attract more
predictable recurring revenue. Analysts will look at whether the company forecasts a fall in
average revenue per user as Adobe offered more discounts for Creative Cloud, which includes its
Photoshop, Illustrator and Flash software.

Statistics Canada releases April data for foreign investment in Canadian securities. Foreign
investment jumped to C$22.47 billion in March, the biggest inflow since May 2012, as investors
picked up corporate bonds and stocks. (0830/1230)

LIVECHAT: EMERGING MARKETS - How to play global debt and currency markets in a rising U.S. rate
environment with Brown Brothers Harriman Strategist Win Thin
Emerging Markets' central bankers are already starting to move on rates, anticipating the return
to normalcy for U.S. monetary policy, but not all are going to get the timing right. Join Brown
Brothers Harriman Emerging Markets Strategist Win Thin to discuss which ones are most at risk as
the U.S. shifts gears. To get into the conversation, click here, bit.ly/1kTxdKD
(Compiled by Nivedita Balu; Editing by Simon Jennings)